Still no clarity on Mannur confirmation at IOC
With oil crashing below $50/barrel, petrol and diesel prices free, now is the worst possible time for IndianOil’s marketing division to be headless.
IOC needs strategies in place to deal with squeezed marketing margins and potential loss of market share to private players Reliance, Essar and Shell. “Reliance and Essar could corner 12% of the market in a year if IOC is not careful,” warns a source.
So why does the PMO continue to maintain a mysterious silence over why it isn’t clearing UV Mannur as the company’s new director marketing? Some say Mannur’s appointment is delayed because of lobbying by a rival IOC executive director in Andhra Pradesh, Balwinder Singh Canth, who is believed to be the candidate ranked second after interviews on May 26, 2014. Mannur’s selection was initially rejected by oil minister Dharmendra Pradhan but revived by home minister and BJP strongman Rajnath Singh.
His file was forwarded to the PMO in early December but files which reached the PMO much later, have already been cleared. For instance Prime Minister Narendra Modi cleared the appointment of Verghese Cherian as IOC director human resources and S.
Krishna Prasad as Chennai Petroleum Corporation (CPCL) director finance on January 7. For now though IOC chairman B.
Ashok continues to hold additional charge of director marketing following M. Nene’s retirement on December 31.